SOL Token Faces 2.95% Drop Amid ETF News, Surging Futures Interest, and $3.33B Binance Volume

Solana (SOLUSDT) experienced a 2.95% price decline over the past 24 hours, with the current price at 148.24 USDT on Binance, opening at 152.75 USDT. The price movement appears influenced by heightened market activity, as evidenced by a 119% surge in futures open interest and a long/short ratio of 2.2, indicating increased leveraged long positions. Recent ETF-related news, including the launch of a U.S. staking ETF with Solana exposure and ongoing speculation about further ETF approvals, initially drove bullish sentiment and a price rally earlier in the week. However, the inability to sustain gains above key resistance levels, combined with profit-taking and short-term volatility, contributed to the recent pullback. Trading volume remains elevated, with Binance reporting approximately $3.33 billion in 24-hour volume, and Solana maintains a strong market capitalization of around $81.30 billion with a circulating supply of about 535.58 million SOL.